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Consider Bob, he washes his car by hand rather than taking it to the local car wash. When asked why he washes it by hand, Bob explains "you should never pay for something you can do yourself." Evaluate the validity of Bob's statement, especially in terms of absolute and comparative advantage.
The schedule below shows the level of output that can be produced using different levels of input. A unit of input costs $80 and the fixed costs of running your business are $50.
What is the growth rate of nominal GDP in the economy?An adverse supply shock raises the inflation rate associated with every output ratio by 3 percentage points. Draw the new short-run Phillips Curve.
Utilizing aggregate demand, short-run aggregate supply, and long-run aggregate supply curves, explain the process by which each government policies will move the enconomy from one long-run macroeconomic equilibruium to another.
Assume the United States government is planning changes in economic and social policy to decrease wage inequality.
Overview of the project's objectives and scope
the united arab emirates economic growth is likely to slow to 2.3 percent this year from an estimated 4.9 in 2011 as
There are many factors might change AD and AS, and equilibrium. Please evaluate the effect of following scenario on the AD curve, AS curve, and accordingly the effect on equilibrium price level and equilibrium GDP/output.
Suppose that the economy is already in a recession, and both President and Congress have decided to do something to restore the economy.
Analyzing many indicators of the macroeconomic situations in an economy, which includes interest rate, income, CPI, inventory levels, wage, consumer confidence and unemployment.
In an attempt to reduce poaching of elephant ivory tusks, officials in Kenya burned illegally gathered ivory. Using your understang of shifts in supply and demand, will this turn out to be a helpful or hurtful move on the Kenyan government's part
What are some examples of goods that the U.S. has comparative advantage in producing Take a look at the tag of the shirt/dress/pants you are wearing today. Where was it made Anyone wearing "Made in America" items of clothing today
Max Whitley, manager of Whitley Construction, builds new homes in a booming community in the Midwest. Although the sales have slowed down because of a national recession, it now looks as if the recession is about to end. Max wants to be ready with..
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